Insider Selling: Snap-On (NYSE:SNA) CEO Sells 23,229 Shares of Stock

Snap-On Incorporated (NYSE:SNA) CEO Nicholas Pinchuk sold 23,229 shares of the firm’s stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $383.36, for a total value of $8,905,069.44. Following the completion of the transaction, the chief executive officer owned 846,562 shares of the company’s stock, valued at approximately $324,538,008.32. This represents a 2.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Snap-On Price Performance

Shares of Snap-On stock traded down $0.84 on Monday, hitting $385.04. The company’s stock had a trading volume of 391,058 shares, compared to its average volume of 349,884. The company has a market capitalization of $19.99 billion, a P/E ratio of 20.06, a price-to-earnings-growth ratio of 2.66 and a beta of 0.81. Snap-On Incorporated has a 52-week low of $289.81 and a 52-week high of $390.13. The firm has a fifty day moving average price of $363.98 and a 200-day moving average price of $345.84. The company has a quick ratio of 3.68, a current ratio of 4.79 and a debt-to-equity ratio of 0.20.

Snap-On (NYSE:SNA) last announced its earnings results on Thursday, February 5th. The company reported $4.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.86 by $0.08. Snap-On had a net margin of 21.44% and a return on equity of 17.34%. The company had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.24 billion. During the same quarter in the previous year, the business posted $4.82 earnings per share. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. On average, equities research analysts expect that Snap-On Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-On Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 24th will be issued a dividend of $2.44 per share. The ex-dividend date is Tuesday, February 24th. This represents a $9.76 dividend on an annualized basis and a dividend yield of 2.5%. Snap-On’s payout ratio is 50.86%.

Institutional Investors Weigh In On Snap-On

Institutional investors have recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Snap-On during the 4th quarter worth approximately $25,000. DV Equities LLC acquired a new stake in Snap-On during the 4th quarter valued at $25,000. GoalVest Advisory LLC purchased a new stake in Snap-On during the 4th quarter worth $28,000. Tobam acquired a new position in Snap-On in the 2nd quarter worth $29,000. Finally, Vermillion & White Wealth Management Group LLC grew its stake in shares of Snap-On by 97.9% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 95 shares of the company’s stock valued at $30,000 after acquiring an additional 47 shares in the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Wall Street Zen lowered shares of Snap-On from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Robert W. Baird set a $375.00 price objective on Snap-On in a report on Friday, February 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a research note on Wednesday, January 21st. Finally, Roth Mkm reissued a “buy” rating and issued a $409.00 price target (up from $385.00) on shares of Snap-On in a research note on Tuesday, February 10th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $370.67.

About Snap-On

Snap‑On Incorporated (NYSE: SNA) is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company’s product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap‑On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap‑On has established a long history in the professional tools market.